To solve the inefficiencies of analog work in trade with blockchain technology, TradeWaltz was established in April 2020 by the Trade Consortium, which was launched by 13 private sector companies in August 2017. With a mission to “create the future of trade”, we connect trade data that is fragmented among companies, countries, and platforms to realize fully electronic trade.
Our service, TradeWaltz®, is a trade information collaboration platform that (1) ensures high security and data reliability using blockchain technology, which makes it difficult to falsify information, and (2) enables the integrated management of documents and information related to trade operations in electronic data across industries. On the same platform, various types of information and documents can be shared among shippers, banks, forwarders, shipping companies, government agencies, and other parties involved in the trade procedures, and can be edited efficiently. In addition, progress can be checked in real time, making it possible to proceed smoothly with the procedures necessary for trade operations. In the proof of concepts, we have conducted so far, we are able to reduce the time required for trade operations by 40% to 60% compared to the conventional system, achieving a significant improvement in operational efficiency.
Creation of Ecosystem
TradeWaltz® shall not only connect data between companies but shall also connect national PFs and PFs in each industry. We have already started collaborating with NACCS (Japanese national customs clearance PF), which is used by approximately 13,000 (99.7%) of Japanese trade practitioners, and TOSS (UI platform for shippers and FWDs), which is used by 7,400 companies mainly in Japan, to link the domestic platforms. TradeWaltz is also making steady progress in overseas expansion, and at the APEC trade computerization workshop on May 11, 2021, we announced the concept of a five-country system collaboration with the national PFs of Singapore, Thailand, New Zealand, and Australia.
TradeWaltz shall continue to propose initiatives that will not only improve the efficiency of trade within its own country, but also bring global trade closer to a more electronic "future of trade" by linking data between PFs in different countries and PFs in different industries.
Please visit https://www.tradewaltz.com/ for more information.